Crysdale Industries Ltd Directors Report

Dear Members,

Your directors have pleasure in presenting their 40th Annual Report on the business performance and operations of the Company Crysdale Industries Limited (Formerly known as Relson India Limited) along with the Audited Financial Statements for the financial year ended March 31, 2026 (‘the Year or ‘FY 2026).

1. Financial summary or highlights/performance of the company:

The Audited Financial Statements for the Financial Year ended March 31, 2026, forming part of this Annual Report, have been prepared in accordance with the applicable Indian Accounting Standard (hereinafter referred to as "Ind AS") prescribed under Section 133 of the Companies Act, 2013 ("Act") and other recognized accounting practices and policies to the extent applicable. The Companys performance during the Financial Year under review as compared to the previous Financial Year is summarized below:

(Amount in Lakhs)

Particulars	Standalone 2025-26	Standalone 2024-25	Consolidated 2025-26	Consolidated 2024-25
Revenue from Operations	-	4.30	-	4.30
Other Income	0.23	0.26	0.23	0.26
Total Revenue	0.23	4.56	0.23	4.56
Total Expenses	23.19	23.65	23.35	23.94
Profit/Loss Before Tax	(22.96)	(19.09)	(23.12)	(19.37)
Less: Current Tax	-	-	-	-
Less: Provision for Income Tax	-	-	-	-
Less: Deferred Tax	-	-	-	-
Profit/Loss After Tax	(22.96)	(19.09)	(23.12)	(19.37)
Add: Amount of reserves brought from previous year	246.16	265.25	246.37	265.74
Balance carried to balance sheet	223.20	246.16	223.25	246.37

During the financial year 2025-26, the Company did not generate any revenue from operations and earned Rs 0.23 Lakhs as other income, as compared to revenue from operations of Rs 4.30 Lakhs and other income of Rs 0.26 Lakhs during the previous financial year. The Company incurred a net loss of Rs 22.96 Lakhs during FY 2025-26 as against a net loss of Rs 19.09 Lakhs during the previous financial year.

On a consolidated basis, the Company did not generate any revenue from operations and earned other income of Rs 0.23 Lakhs during FY 2025-26, as compared to revenue from operations of Rs 4.30 Lakhs and other income of Rs 0.26 Lakhs during the previous financial year. The consolidated loss after tax stood at Rs 23.12 Lakhs during FY 2025-26 as against Rs 19.37 Lakhs during the previous financial year.

2. Segment Performance:

The companys operations are integrated, and therefore, the Company has no separately reportable business/operating segments.

3. Dividend:

The Board of Directors, after considering the financial performance, accumulated losses and the financial requirements of the Company, has not recommended any dividend on the equity shares of the Company for the financial year ended March 31, 2026.

4. Transfer to Reserves:

During the year, the Board has not transferred any amount to the Reserves of the Company.

5. Change in nature of business, if any:

During the financial year under review, there was no change in the nature of business of the Company. The Company continued to carry on the business activities as stated in its Memorandum of Association.

6. Subsidiary, Associate and Joint Venture Companies, their highlights of performance and their contribution to overall performance of the company:

Wergreen Industries Private Limited is a subsidiary of the Company.

The report on the performance and financial position of the subsidiary, including details relating to capital, reserves, total assets, total liabilities, investments, turnover, etc., as required under Section 129 of the Companies Act, 2013, is provided in Form AOC-1, annexed as Annexure I to this Report and forms an integral part of the Boards Report.

The Company does not have any associate company or joint venture during the financial year under review or as at the date of this Annual Report. Neither the company is a subsidiary company during the reporting period.

7. Share Capital and Listing:

The paid-up equity capital as on March 31, 2026 was Rs 165.00 Lakhs. The Company is listed on BSE Limited and as on date all the Equity Shares of the Company are in physical form. The Companys equity shares have been suspended from trading by BSE Limited, where the company is listed. However, the Company has already applied for revocation of the suspension, submitting the required fees and necessary information to BSE.

8. Web-link for Annual Return:

Pursuant to the provisions of Section 92(3) and Section 134(3)(a) of the Act the Company shall place Annual Return as at 31st March, 2026, upon filing on the website of the Company at https://relsonindia.com/annual-report/ By virtue of amendment to Section 92(3) of the Companies Act, 2013, the Company is not required to provide extract of Annual Return (Form MGT-9) as part of the Boards report.

9. Revision in Financial Statements:

In terms of Section 131 of the Companies Act, 2013, the Financial Statements and Boards Report follow the provisions of section 129 or section 134 of the act and that no revision has been made during any of the three preceding Financial Years.

10. Deposits:

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public was outstanding as on the date of the balance sheet. However, company is having unsecured loan from Directors of the company for which proper declaration has been furnished by them as required under Rule 2(viii) of the Companies (Acceptance of Deposits) Rules, 2014 during the period under review.

11. Material changes and commitments:

There have been no material changes and commitments affecting the financial position of the Company between the end of the financial year and the date of this Report.

During the financial year, the Registered Office of the Company was shifted from "307 Janki Centre, Plot No. 29, Shah Industrial Estate, Veera Desai Road, Mumbai – 400053" to "S7 – 13, 7th Floor, B Wing, Pinnacle Business Park, Mahakali Caves Road, MIDC, Andheri East, Chakala MIDC, Mumbai – 400093", pursuant to the decision taken by the Board of Directors at its meeting held on May 29, 2025.

12. Details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and companys operations in future:

No significant and material orders have been passed by any Regulator or Court or Tribunal which can have an impact on the going concern status and the Companys operations in future. BSE Limited, stock exchange where the company is listed has suspended the trading of Companys Equity Shares.

13. Directors Responsibility Statement:

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, confirm that:

a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b) Company has selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period;

c) Company has taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

d) Company has prepared the annual accounts on a going concern basis;

e) proper internal financial controls laid down by the Directors were followed by the Company and that such internal financial controls are adequate and were operating effectively; and

f) Company has devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

14. The composition of Board of Directors and KMP of the Company as on March 31, 2026 is as follows:

Sr. No. Name	DIN/PAN	Date of Appointment	Designation
1. Mr. Rajiv Gupta	01116868	November 14, 2017	Non-Executive Director
2. Ms. Swati Sahukara	06801137	June 07, 2023	Non-Executive Director
3. Ms. Pooja Agrawal	10244119	July 20, 2023	Non-Executive Independent Women Director
4. Mr. Narendrakumar Badrinarayan Patel	08467505	March 22, 2024	Non-Executive Independent Director
5. Mrs. Meenal Baid Jain	ALHPB8920G	June 07, 2023	Chief Financial Officer
6. Mr. Kapil Dhawan	BBAPD8593B	June 07, 2023	Chief Executive Officer
7. Mrs. Kavita Hitesh Jain	ARNPJ3755B	December 05, 2023	Company Secretary & Compliance Officer

15. Changes in Directors and Key Managerial Personnel:

There was no change in the composition of the Board of Directors during the financial year under review, except that Ms. Swati Sahukara (DIN: 06801137), who retired by rotation at the 39th Annual General Meeting held on September 30, 2025, was re-appointed as a Director of the Company.

Further, Mr. Rajiv Gupta (DIN: 01116868), who is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment.

16. Number of Meetings of the Board of Directors and Attendance:

For the financial year in review, the Board of Directors had 05 (Five) Board Meetings which were in compliance with the relevant provisions of all the applicable laws and rules. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013 and Secretarial Standards-I. The dates of the Board Meetings were: May 29, 2025; August 05, 2025; September 03, 2025; November 14, 2025; February 11, 2026:

Name of Director	Position	Meeting held during tenure	Meeting attended during tenure	Attendance at the last AGM held on 30th September, 2025
Mr. Rajiv Gupta	Non-executive Director	05	05	Yes
Ms. Swati Sahukara	Non-executive Director	05	05	Yes
Ms. Pooja Agrawal	Non-executive Independent Woman Director	05	05	Yes
Mr. Narendrakumar Badrinarayan Patel	Non-executive Independent Director	05	05	Yes

17. Declaration by an Independent Director(s) and re- appointment, if any:

All Independent Directors of the Company have submitted the requisite declarations confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 and the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board is of the opinion that the Independent Directors of the Company possess the requisite qualifications, expertise and experience and are persons of integrity and repute.

The Independent Directors have also confirmed compliance with the Code of Conduct for Board Members and Senior Management Personnel of the Company.

The Independent Directors have further confirmed that they are not aware of any circumstance or situation which exists or may reasonably be anticipated to impair or impact their ability to discharge their duties with an objective and independent judgment.

18. Disclosure of Declaration for Disqualifications by Directors:

During the year under review, none of the Directors on the Board were disqualified under Section 164(2) of the Act. The Company has received declarations from all Directors confirming that they are not disqualified to act as Directors under any applicable laws.

19. Separate Meeting of Independent Directors:

Pursuant to Schedule IV to the Companies Act, 2013, a separate meeting of the Independent Directors of the Company was held on February 11, 2026.

The Independent Directors, inter alia, reviewed the performance of the Non-Independent Directors and the Board as a whole, reviewed the performance of the Chairperson of the Company after considering the views of Directors, and assessed the quality, quantity and timeliness of the flow of information between the management of the Company and the Board of Directors.

20. Performance Evaluation & Nomination and Remuneration Policy:

Pursuant to Section 134(3)(p) read with Rule 8(4) of the Companies (Accounts) Rules, 2014, the Board has carried out an evaluation of its own performance, the directors individually as well as the evaluation of its Committees as per the criteria laid down in the Nomination, Remuneration and Evaluation policy. The said policy available on the Companys website i.e. www.relsonindia.com.

21. Policies:

The Company is committed to upholding the highest standards of ethics and integrity in all its business practices, guided by its core values. In compliance with the requirements of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Companies Act, 2013, the Company has adopted various corporate governance policies. These policies are hosted on the Companys website at https://relsonindia.com/policies/

The policies are periodically reviewed by the Board and updated from time to time to ensure continued alignment with statutory and regulatory requirements.

22. Details in respect of adequacy of internal financial controls with reference to the Financial Statements:

As a part of the effort to evaluate the effectiveness of the internal control systems, your Companys internal audit system reviews all the control measures on periodic basis and recommends improvements, wherever appropriate. The Company has in place adequate internal control systems and procedures commensurate with the size and nature of its business. These systems and procedures provide reasonable assurance of maintenance of proper accounting records, reliability of financial information, protections of resources and safeguarding of assets against unauthorized use. The management regularly reviews the internal control systems and procedures.

23. Statutory Auditors:

M/s JMMK & Co, Chartered Accountants, (ICAI Firm Registration No: 120459W) are the Statutory Auditors of the Company and were appointed in the 37th Annual General Meeting ("AGM") for a term of five consecutive years i.e., up to 42nd AGM as Statutory Auditors of the Company.

The Statutory Auditors have confirmed that they are eligible to hold office as Statutory Auditors of the Company and that they are not disqualified from continuing as Statutory Auditors.

The observations made by the Statutory Auditors in their Report, read together with the relevant Notes to Accounts, are self-explanatory and do not call for any further comments by the Board.

The Statutory Auditors have not reported any fraud under Section 143(12) of the Companies Act, 2013.

24. Cost Auditors

The Company is not required to maintain cost records and conduct cost audit in accordance with Section 148(1) of the Act read with Rule 3 of the Companies (Cost Record and Audit) Rules, 2014 as the business of the Company is not covered under the said rules and limits.

25. Secretarial Auditor:

Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulation 24A of the SEBI (LODR) Regulations, 2015, it is mandated that every listed entity and its material unlisted subsidiaries undertake a Secretarial Audit

Further, listed entities are required to submit an Annual Secretarial Compliance Report, which shall be signed by the appointed Secretarial Auditor or a Peer Reviewed Company Secretary satisfying the conditions as prescribed by SEBI.

In alignment with the aforementioned regulatory framework including the amendments made, the Board of Directors, based on the recommendation of Audit Committee, approved appointment of CS Nitesh Chaudhary, Proprietor of M/s. Nitesh Chaudhary & Associates, Practicing Company Secretaries (Firm Registration No. S2020MH721600 & Peer Review No. 2008/2022), a peer reviewed firm of Company Secretaries in Practice as Secretarial Auditors of the Company for a period of five years, i.e., from April 1, 2025 to March 31, 2030. The said appointment was approved by the shareholders at the 39th Annual General Meeting.

The Secretarial Audit Report in accordance with the provisions of Section 204 of the Companies Act, 2013 for FY 2025-26 is enclosed as Annexure – II and forms part of this report.

26. Share Capital:

a) Issue of equity shares with differential rights:

The Company has not issued any shares with differential voting rights and accordingly the provisions of Section 43 read with Rule 4(4) of the Companies (Share Capital and Debentures) Rules, 2014 of the Companies Act, 2013 and rules framed there under are not applicable for the year.

b) Issue of sweat equity shares:

The Company has not issued any sweat equity shares and accordingly the provisions of Section 54 read with Rule 8(13) of the Companies (Share Capital and debentures) Rules, 2014 of the Companies Act, 2013 and rules framed there under are not applicable for the year.

c) Issue of employee stock options:

The Company has not granted stock options and accordingly the provisions of Section 62(1)(b) read with Rule 12(9) of the Companies (Share Capital and Debentures) Rules, 2014 of the Companies Act, 2013 and rules framed there under are not applicable for the year.

d) Provision of money by company for purchase of its own shares by employees or by trustees for the benefit of employees:

The Company has not made any purchase or provision of its own shares by employees or by trustees for the benefit of employees during the financial year 2025-26.

e) Increase in Authorized Share Capital of Shares:

During the year, the Company did not undertake any increase in its Authorized Share Capital. The existing Authorized Share Capital remains unchanged.

f) Issue of Equity Shares:

During the year, the Company had made no issue of securities and had no variations or alterations in its Register of Members.

27. Conservation of energy and technology absorption:

As the Company is not a manufacturing Company, the Board of Directors has nothing to report on conservation of Energy and Technology absorption, Information required under section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014. However, concerted efforts to conserve energy continued throughout the year.

28. Foreign exchange earnings and outgo:

During the year under review, the Company has not entered into any foreign exchange earnings and outgo. As a result, there were no foreign exchange earnings or outgo recorded during the financial year.

29. Corporate Social Responsibility (CSR):

As per the provisions of Section 135 of the Companies Act, 2013, the requirement to undertake Corporate Social Responsibility (CSR) activities is not applicable to the Company. Consequently, the Company is not obligated to carry out or report any CSR activities during the financial year.

30. Managerial Remuneration / Remuneration Policy:

The Board has framed a policy for selection and appointment of Directors, senior management and their remuneration. The said Policy is available on the website of the Company at https://relsonindia.com/policies/.

31. Particulars of loans, guarantees or investments under Section 186:

The details of loans outstanding as on March 31, 2026 under Section 186 of the Companies Act, 2013 is provided in Note 4.3 to the Financial Statements.

32. Managerial Remuneration:

The information required pursuant to Section 197 read with Rule 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Companies (Particulars of Employees) Rules, 1975, in respect of employees of the Company and Directors is furnished hereunder:

1. The ratio of the remuneration of each director to the median remuneration of the employees of the company for the financial year end:

None of the directors were paid any remuneration during the year.

2. The percentage increase in remuneration of each director, Chief Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financial year;

Name of Director/CFO/CS	Designation	% increase/(decrease) in remuneration
Mrs. Meenal Baid Jain	Chief Financial Officer	24%
Mr. Kapil Dhawan	Chief Executive Officer	24%
Ms. Kavita Ashok Jain	Company Secretary and Compliance Officer	4.28%

The remuneration of the KMPs is duly reviewed on annual basis keeping in mind the tenure, the past performance and current performance.

3. The percentage increase in the median remuneration of employees in the financial year was:

Not Applicable

4. The number of permanent employees and Key Managerial Personnel on the rolls of Company as on 31.03.2026 was 5;

5. Average Percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof;

Remuneration paid to employees excluding managerial personnel for the 2024-25	Nil
Remuneration paid to employees excluding managerial personnel for the 2025-26	Nil
% Change in remuneration paid to employees excluding managerial personnel	NA
Remuneration paid to managerial personnel for the FY 2024-25	Rs 10,80,000
Remuneration paid to managerial personnel for the FY 2025-26	Rs 14,26,114
% Change in remuneration paid to managerial personnel	32.05%

6. During the year no variable component of remuneration availed by Directors of the Company;

7. It is hereby affirmed that the remuneration paid by the Company to its Directors, KMPs and Employees during the year under review is as per the Nomination & Remuneration Policy of the company.

8. None of the employee has received remuneration of Rupees Eight Lakhs and Fifty Thousand per month or Rupees One Crores Two Lakhs per year or at a rate which, in the aggregate, is in excess of that drawn by the managing director or whole-time director or manager and holds by himself or along with his spouse and dependent children, not less than two percent of the equity shares of the company.

33. Particulars of contracts or arrangements with related parties under Section 188:

During the financial year under review, the Company has not entered into any transactions or arrangements with related parties falling within the purview of Section 188 of the Companies Act, 2013. Accordingly, the provisions of Section 134(3)(h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 are not applicable to the Company, and Form AOC-2 is not required to be annexed to this Report.

The Board of Directors of the Company has, on the recommendation of the Audit Committee, adopted a Policy on Materiality of Related Party Transactions and on dealing with Related Party Transactions, in compliance with the applicable provisions of the Companies Act, 2013, the Rules made thereunder and the SEBI Listing Regulations. The said Policy is available on the website of the Company at https://relsonindia.com/policies/.

34. Vigil Mechanism:

Pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013 and Listing Regulations, a Vigil Mechanism for directors and employees to report genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the website of the Company at https://relsonindia.com/policies/.

35. Disclosure under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013:

Pursuant to Section 4 and other applicable provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 ("POSH Act"), the Company is committed to maintaining safe and respectful working environment and to ensuring compliance with the provisions of the POSH Act and the rules made thereunder.

Further, pursuant to Rule 8(5)(x) of the Companies (Accounts) Rules, 2014, the Company confirms compliance with the provisions relating to the constitution of the Internal Committee under the POSH Act.

During the financial year under review:

Particulars	Number
Number of complaints of sexual harassment received during the year	Nil
Number of complaints disposed of during the year	Nil
Number of cases pending for more than ninety days	Nil

The Company shall take appropriate steps to ensure compliance with the applicable provisions of the POSH Act, including constitution of Internal Committee, as and when applicable.

36. Compliance with Maternity Benefit Act, 1961:

The Company has complied with the applicable provisions of the Maternity Benefit Act, 1961, as amended from time to time, and the rules made thereunder. During the financial year under review, there were no instances requiring payment of maternity benefit or other benefits under the said Act.

37. Business Risk Management:

The Company has implemented an integrated risk management approach through which it reviews and assesses significant risks on regular basis to ensure that a robust system of risk controls and mitigation is in place. Senior management periodically reviews this risk management framework to keep updated and addresses emerging challenges.

38. Committees

a. Audit Committee:

The Audit Committee reviews the audit reports submitted by Statutory Auditor, financial results, effectiveness of audit processes and the Companys risk management strategy. It reviews the Companys established systems and the Committee is governed by a Charter which is in line with the regulatory requirements mandated by the Companies Act, 2013 and Regulation 18 read with part C of Schedule II of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Committee met 4 (Four) times during the financial year on May 29, 2025; August 05, 2025; November 14, 2025 and February 11, 2026.

Rs  Composition, Name of Members and Attendance during the year is as follows:

Sr. No.	Name of the Members	Nature of Membership	No. of Meetings Attended/Eligible to attend
1.	Mr. Narendrakumar Badrinarayan Patel	Chairman	4/4
2.	Ms. Swati Sahukara	Member	4/4
3.	Ms. Pooja Agrawal	Member	4/4

b) Nomination and Remuneration Committee:

This Committee shall identify the persons, who are qualified to become Directors of the Company / who may be appointed in Senior Management in accordance with the criteria laid down, recommend to the Board a policy, relating to the remuneration of the Directors, Key Managerial Personnel and other employees.

The Remuneration policy as adopted by the Company envisages payment of remuneration according to qualification, experience and performance at different levels of the organization. The employees in the Company including those rendering clerical, administrative and professional services are suitable remunerated according to Industry norms.

During the financial year 2025-26, the Committee met 2 times on: August 05, 2025, and February 11, 2026.

Rs  Composition, Name of Members and Attendance during the year is as follows:

Sr. No.	Name of the Members	Nature of Membership	No. of Meetings Attended/Eligible to attend
1.	Mr. Narendrakumar Badrinarayan Patel	Chairman	2/2
2.	Ms. Swati Sahukara	Member	2/2
3.	Ms. Pooja Agrawal	Member	2/2

c) Stakeholders Relationship Committee:

The Stakeholders Relationship Committee is constituted in accordance with Section 178 of the Companies Act, 2013 and applicable rules thereto and as per Regulation 20 of SEBI Listing Regulations.

The Committee met during the financial year on August 05, 2025.

Rs  Composition, Name of Members and Attendance during the year is as follows:

Sr. No.	Name of the Members	Nature of Membership	No. of Meetings Attended/Eligible to attend
1.	Mr. Narendrakumar Badrinarayan Patel	Chairman	1/1
2.	Ms. Swati Sahukara	Member	1/1
3.	Ms. Pooja Agrawal	Member	1/1

39. Code of Practices and Procedure for Fair Disclosure of Unpublished Price Sensitive Information ("Code"):

Pursuant to Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015 the Board of Directors has formulated and adopted the "Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information" (Code of Fair Disclosure) of the Company.

40. Other Disclosures:

Rs  The Business Responsibility Reporting as required by Regulation 34(2) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, is not applicable to your Company for the financial year ending March 31, 2026.

Rs  No application was made or any proceeding is pending under the Insolvency and Bankruptcy Code, 2016 during the year in respect of your Company.

Rs  There was no one time settlement of loan obtained from the Banks or Financial Institutions.

Rs  The Company does not make payment to any Non-Executive Directors except sitting fee if, approved by the Board.

41. Depository:

Equity shares of the Company are in physical form. For dematerialization of shares, the Company has connectivity with the National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL). Annual Custody/Issuer fee for the year 2025-26 has been paid by the Company to NSDL and CDSL.

42. Management Discussion and Analysis:

The Management Discussion and Analysis report has been separately furnished in the Annual Report and forms a part of the Annual Report as Annexure-III.

43. Report on Corporate Governance and Compliance Certificate:

The provisions relating to the Report on Corporate Governance and the accompanying Compliance Certificate under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are not applicable to the Company for FY 2025-26 pursuant to the exemption available under Regulation 15(2)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, subject to the Company satisfying the prescribed paid-up equity share capital and net-worth thresholds as at March 31, 2025.

44. Code of Conduct

The Company has framed and adopted a Code of Conduct and Ethics ("the Code"). The Code is applicable to the members of the board, the executive officers and all employees of the Company. All members of the board and senior management personnel have affirmed compliance to the Code as on March 31, 2026. A declaration to that effect signed by the Chief Executive Officer is enclosed as Annexure-IV to this report.

45. Disclosure with respect to demat suspense account/ unclaimed suspense account:

The Company does not have any shares in the demat suspense account/ unclaimed suspense account.

46. Disclosure on confirmation with Secretarial Standards:

The Directors confirm that the Company has duly complied with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India ("ICSI") and approved by the Central Government pursuant to Section 118(10) of the Companies Act, 2013, during the financial year under review.

47. Acknowledgements:

The Directors place on record their appreciation for the continued support and cooperation received from the shareholders, customers, bankers, business associates, regulatory authorities and other stakeholders of the Company. The Directors also acknowledge the contribution and commitment of the employees of the Company.

For and on behalf of the Board of Directors

CRYSDALE INDUSTRIES LIMITED

(Formerly known as Relson India Limited)

Sd/-

Rajiv Gupta

Director

DIN: 01116868

Sd/-

Swati Sahukara

Director

DIN: 06801137

Date: 04th September, 2026

Place: Mumbai